Big Yellow Group (BYG) Q1 2026 TU earnings summary

Executive summary

• Delivered resilient Q1 performance with revenue up 3% year-over-year and like-for-like store revenue up 2%.

• Achieved stronger occupancy growth than the same period last year, with new store openings contributing to increased occupied space.

• Continued disciplined cost control and focus on customer service amid challenging fiscal and budgetary environment.

Financial highlights

• Total revenue for the quarter ended 30 June 2026 was £53.2 million, up 3% year-over-year.

• Like-for-like store revenue reached £52.2 million, a 2% increase from the prior year.

• Average achieved net rent per sq ft rose 3% to £36.68; closing net achieved rent per sq ft up 2% to £36.45.

Outlook and guidance

• Expect a first half increase in store operating expenditure of 4% like-for-like, with a full-year increase of 3%.

• Anticipate continued challenging operating environment due to fiscal and budgetary uncertainties.

• Four new stores scheduled to open in the current financial year, with further openings planned through March 2028.